Hey guys,
I spy a dirty big head and shoulders breakout that happened on friday. Coupled with the break of the trend channel that has been in play since Aug 16th, which also happened on friday, I think this is a good short signal. I will wait for a retrace back to 1.45-1.46 area, weekly pivot point at 1.4530 may be a good entry (this is also the neckline). Hope we get it!!
Target is around the 1.41 but there may be some strong support at 1.4200-1.4170 which shows confluence of the 50% fib retrace of the daily trend and 23.6% retrace of the weekly trend.
I'm sure everyone has seen this, it's kinda hard to miss, but for those of you that havn't - enjoy!
I spy a dirty big head and shoulders breakout that happened on friday. Coupled with the break of the trend channel that has been in play since Aug 16th, which also happened on friday, I think this is a good short signal. I will wait for a retrace back to 1.45-1.46 area, weekly pivot point at 1.4530 may be a good entry (this is also the neckline). Hope we get it!!
Target is around the 1.41 but there may be some strong support at 1.4200-1.4170 which shows confluence of the 50% fib retrace of the daily trend and 23.6% retrace of the weekly trend.
I'm sure everyone has seen this, it's kinda hard to miss, but for those of you that havn't - enjoy!